Gang busted, $500 million dollar bonds seized


Islamabad June 21 (TNS): In a major operation of its kind, the Federal Investigation Agency has busted and seized $500 million dollar worth of fake bonds and fake certificates from six persons during a raid at Aabpara in Islamabad.

On a tip-off, the FIA team intercepted the six persons, whose gang leader was identified Chaudhry Bashir, while they were selling the fake bonds to one, Fawad, at a point in Aabpara.

The arrested fraudsters, who were identified as Atiqur Rahman, Nazir Hussain, Hamza, Muhammad Riaz, Amjad Ali and Bahaul Haq, confessed to selling the fake bonds and certificates to the people across the country.

After arresting the fraudsters, the FIA later involved the US embassy officials in verifying the bods, claimed to be issued by the USA Federal Reserve, and it turned out that the eight bonds worth$500 million dollars were fake.

Chaudhry Bashir told the investigators that the bonds were given to him by Riyaz back in Faisalabad.

The US embassy officials reportedly told the FIA that they were also looking for the gang operating in Pakistan.

According to the FIA, the gang used to sell the fake bonds to gullible people across the country. Further investigation is under way.

An FIR has been registered against the accused under Section 489 A, B, C/ 34 PPC.

According to sources, the FIA and the US embassy officials had gone to arrest the ringleader Ghulam Yasin in Faisalabad, however, he escaped. Further raids are underway to arrest him, the FIA sources said.